1st Oman Real Estate Exhibition and Conference set for March 2018
DIVERSE ARRAY: The real estate sector in Oman is witnessing a different set of dynamics
Leading events management firm Omanexpo and Oman Real Estate Association (ORA) formally announced their partnership to organise the first Oman Real Estate Exhibition and Conference (OREX), will be held from March 12 to 14, 2018 at the Oman Convention and Exhibition Centre in conjunction with The BIG Show (Builders International Gathering).
An MoU to this effect was Omanexpo general manager Nader Abbas and ORA Chairman Mohamed bin Salim al Busaidi at the Grand Hyatt Muscat yesterday. Also present were ORA Vice Chairman Hassan Juma al Lawati and OREX Exhibition Director Fehmi Ouaja.
Briefing journalists about the event, Hassan al Lawati of ORA, said a maturing real estate market in the Sultanate has made it conducive for the hosting of a large-scale exhibition and conference with potential participation from developers and investors from around the region, including Turkey and India.
“The real estate sector is witnessing a different set of dynamics today,” Al Lawati said. “Earlier, real estate development mainly entailed conventional residential and commercial projects.
But today, we see a diverse array of developments, including multi-use projects, tourism, retail and so on. In fact, the retail segment is booking, with so many shopping malls announced. We also see an increase in the number of Integrated Tourism Complexes (ITCs), where foreigners can buy into these projects.”
Fehmi Ouaja said: “We are glad to announce our partnership with ORA to organise the first edition of OREX, which will be a co-located event of The BIG Show Oman, which is recognised and established as Oman’s biggest and most important event for the building and construction sector. We are also proud to say that we will be holding its 15th edition in March 2018.”
“The launch of OREX is part of our objectives and continuous efforts to expand The BIG Show platform for our visitors and exhibitors to open up more direct pathways to business, investment and networking opportunities in the real estate sector. On a higher level, we work incessantly in order to provide more value-added segments and features to our events,” he added.
Omanexpo General Manager Nader Abbas stated: “As we all know, tourism is one of the government’s priority sectors for foreign direct investment. Currently, there is a spate of development projects residential, commercial, mixed-use and integrated tourism complexes (ITCs) happening all over Oman. Developments such as Al Mouj Muscat (formerly The Wave), Muscat Bay (formerly Saraya Bandar Jissah), and Muscat Hills Golf and Country Club have led to the housing market in terms of growth and value, and recently the Hawana Project in Salalah.”
“These developments, along with the freehold properties that have recently been opened to foreign ownership, have attracted expatriates and investors from the region and within the neighbouring countries. The rise in the demand for newer-style residential buildings and the surge in the new modern apartments with amenities that meet international standards are positively buoying the market. We are assured that the market remains stable and steady.”